(a) A derivative action to enforce a right of a limited cooperative association shall be maintained only by a person that:
(1) Is a member or a dissociated member at the time the action is commenced and:
(A) Was a member when the conduct giving rise to the action occurred; or
(B) Whose status as a member devolved upon the person by operation of law or the organic rules from a person that was a member at the time of the conduct; and
(2) Adequately represents the interests of the association.
(b) If the sole plaintiff in a derivative action dies while the action is pending, the Superior Court may permit another member who meets the requirements of subsection (a) of this section to be substituted as plaintiff.